Papa John's International Founder John Schnatter has resigned as chairman of the company.

In a news release Wednesday night, Papa John's said Olivia Kirtley will act as the company's "Lead Independent Director," and a new chairman will be named in the coming weeks.

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On Wednesday afternoon, Schnatter resigned from the University of Louisville board of trustees, hours after admitting he used a racial slur.

Schnatter apologized for his use of the slur during a May conference call.

Forbes first reported Wednesday morning that Schnatter made the comment during a conference call between Papa John’s executives and a marketing agency.

Schnatter, trying to downplay comments he made last fall about the NFL, said KFC founder Colonel Harlan Sanders never faced public backlash for using the N-word to describe African-Americans, the Forbes article said.

“News reports attributing the use of inappropriate and hurtful language to me during a media training session regarding race are true. Regardless of the context, I apologize. Simply stated, racism has no place in our society,” Schnatter said in a statement.

“After speaking with John, I’m confident that his comments, while inappropriate, do not reflect his personal beliefs or values,” Grissom said. “No member of the board of trustees condones racism or insensitive language regardless of the setting. The University of Louisville embraces and celebrates diversity and is a supporter of all its students and stakeholders regardless as to their identity.”

Grissom thanked Schnatter for his two years of service and years of support of the university.

Last fall, Schnatter received heavy criticism after he said the pizza chain's sales were hurt by the NFL’s handling of protests by players who knelt during the national anthem.

Company officials later apologized, and Schnatter stepped down from his role as CEO in December.

The May media training conference call was designed to prevent further public relations problems like Schnatter’s NFL comments, Forbes said.

The Kentucky Democratic Party and NAACP called for Schnatter’s removal from the UofL board of trustees.

"An apology is simply not sufficient. Someone capable of making this statement shouldn’t be governing a major university in our state. It’s time for Gov. Matt Bevin to remove him from the University of Louisville board of trustees,” KDP chair Ben Self said.

The Louisville branch of the NAACP also called for Schnatter’s resignation from the board.

“Much to our dismay, it is now reported that a community business leader and member of the University of Louisville board of trustees has used the word which should not be in his vocabulary and never voiced anywhere, public or private,” Raoul Cunningham, of the NAACP, said. “In the place where high ideals are developed, taught, practiced and expected to be emulated and modeled, there is no place or role for a person who uses the N-word knowing what its usage has denoted.”

Officials with the marketing agency involved in the May call said they had no comment to our request for a statement.